Ilya Sutskever’s AI startup raises $2 Billion & Ex-OpenAI staff side with Elon Musk over for-profit transition

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STARTUPS RAISING MILLIONS

💰 Startup funding updates

LiveKit, a San Jose, CA-based voice AI platform powering real-time multimodal AI apps like ChatGPT Voice Mode, raised $45M in Series B at a $345M valuation. The round, which brought total capital raised to $83m, was led by Altimeter Capital with participation from Redpoint Ventures and Hanabi Capital (Mike Volpi’s new fund).

SpectrAxe LLC, a NYC-based marketplace for OTC FX options, closed a Series A funding round of undisclosed amount. The round was led by Susquehanna Private Equity Investments, a member of the Susquehanna International Group of companies, with IMC and CTC as co-investors.

ConductorAI, a Biddeford, Maine-based dual-use software company specializing in AI-enabled approvals, raised $15m in Series A funding. The round was led by Lux Capital with participation from Altman Capital, Haystack Ventures, Sunflower Capital, Humba Ventures, Also Capital, Forward Deployed VC, and Abstract.

NoScrubs, an Austin, TX-based technology company focused on the laundry service industry, raised $2m in pre-seed funding. The round was led by Initialized Capital with participation from Frontier VC.

Alinea Invest, a New York based fintech startup, raised $10.4m in Series A funding. The round was led by Play Ventures, with participation from GFR Fund, Y Combinator, Gaingels, FoundersX, F7, and Visible Ventures.

Limitless Travel, a Birmingham, UK-based travel company specialising in accessible holidays for people with disabilities, raised £6.5m in Series A funding. The round was led by Beringea, with participation from Social Impact Enterprises, Adjuvo, Active Partners, Miroma Ventures, and existing investors including Nigel Wray.

Imbria Pharmaceuticals, Inc., a Boston, MA-based clinical stage biotechnology company developing novel therapies for cardiometabolic diseases with high unmet need, closed a $57.5m Series B financing. The round was led by new investor, Deep Track Capital, with participation from AN Ventures, Catalio Capital Management and Cytokinetics, and existing investors RA Capital Management and SV Health Investors.

Okeiro (formerly known as Predict4Health), a Paris, France-based company specializing in precision medicine for transplantation and advanced chronic diseases, raised €10m in funding. The round was led by Alven, Forepont Capital Partners and Red River West.

NEW VCs IN THE MARKET

🏦 Venture Capital updates

Revent, a Berlin-based VC focused on “planetary and societal health,” has closed a €100M ($109M) Fund II to back climate, healthcare, and economic empowerment startups. Backers include Otto Group, Beiersdorf, and the European Investment Fund. Revent has invested in 26 startups to date and sees growing interest in mission-driven, performance-focused tech across Europe.

KEY STORIES IN TECH

📜 Latest in tech

Ilya Sutskever’s AI startup raises $2B at $32B valuation:

• Ilya Sutskever’s AI startup Safe Superintelligence (SSI) has reportedly raised $2 billion in a new round led by Greenoaks, valuing the company at $32 billion.

• Founded after Sutskever’s departure from OpenAI, SSI aims to build a single product: a “safe superintelligence,” though no product has been publicly revealed yet.

• This latest funding follows an earlier $1 billion round, making SSI one of the most highly valued early-stage AI startups in the world.

Apple reportedly working on a Vision Pro that plugs into your Mac:

• Apple is working on two new Vision Pro models: a cheaper, lighter version and another that plugs into Macs for display streaming and enterprise use, per Bloomberg's Mark Gurman.

• The move comes after underwhelming Vision Pro sales, driven largely by its $3,500 price and bulky design.

• CEO Tim Cook’s long-term goal remains full-day wearable AR glasses — a far more ambitious product still in early stages.

OpenAI may require ID verification for future advanced AI model access:

• OpenAI has introduced a “Verified Organization” process requiring government-issued ID to access certain upcoming models and capabilities.

• The move aims to curb policy violations, improve safety, and prepare for the “next exciting model release,” according to OpenAI.

• It follows past misuse by bad actors and concerns about IP theft, including an alleged data exfiltration incident linked to China-based DeepSeek.

Ireland launches probe into X’s use of European user data to train Grok:

• Ireland’s Data Protection Commission is investigating whether Elon Musk’s X violated GDPR by using European user data to train xAI’s Grok chatbot.

• The inquiry focuses on X's processing of publicly accessible user posts without clear consent, following the platform’s quiet opt-in to data sharing with xAI.

• If found in breach, X could face significant penalties, as the DPC has the authority to fine companies up to 4% of global revenue under EU privacy laws.

Trump exempts phones, computers, chips from ‘reciprocal’ tariffs:

• President Trump's new tariff structure exempts smartphones and computer chips from global duties, sparing tech consumers from potential price increases.

• The updated tariff policy specifically targets certain Chinese goods with a 25% tax while offering protection to critical technology components from worldwide taxation.

• Market analysts predict this selective approach will help moderate inflation in consumer electronics while still maintaining pressure on China's manufacturing sector.

Tesla halts Model S and X sales in China due to tariffs:

• Tesla has stopped selling Model S and X vehicles in China due to a 125 percent tariff imposed by the country in response to President Trump's 145 percent tariff on Chinese imports.

• The company continues to sell its existing inventory but the high-end vehicles, which are among Tesla's least popular in the region, will be unavailable once current stock runs out.

• Model 3 and Model Y vehicles remain unaffected by the tariffs as they are manufactured at Tesla's Shanghai Gigafactory rather than being imported from the United States.

Ex-OpenAI employees file brief backing Elon Musk in lawsuit opposing for-profit shift:

• Twelve former OpenAI employees filed an amicus brief supporting Elon Musk’s lawsuit, arguing that OpenAI’s plan to restructure as a for-profit entity violates its nonprofit mission.

• The brief claims OpenAI's unique nonprofit-controlled structure was central to its mission and recruitment, and changing it could lead to safety risks and shareholder-driven AI development.

• OpenAI maintains its nonprofit will remain and benefit from the restructuring, but critics warn the move undermines trust and mission integrity as the company seeks to finalize the transition by 2025.

LAST COFFEE SIP

☕Other news

38 consumer startup founders lobby over Trump tariffs:

• 38 female consumer product founders signed an open letter urging President Trump and Congress to delay or exempt small businesses from steep tariff hikes, especially the 145% tariff on Chinese imports.

• Founders say sudden cost increases — like a $200,000 annual packaging bill for Juliet Wine — threaten their operations due to limited alternatives and low margins.

• The group, representing $800M in annual revenue, is calling for exemptions, grants, tax incentives, or technical aid to help small businesses navigate disrupted global supply chains.

HIRING ALERT: STARTUPS & VC ROLES

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